crawling peg

基本解释

As a result, the PBOChas de facto adopted a crawling-peg exchange-rate regime.
因此，人民银行实际上采取爬行钉住汇率制。
finance.caijing.com.cn
In fact, the crawling peg encourages some kinds of capitaloutflows, such as carry trade unwinding, the dollarization of household accounts, and withdrawal by portfolio investors.
实际上，爬行钉住汇率制鼓励某些资本的外流，比如套利交易平仓，家庭账户的美元化，以及投资组合的撤离。
finance.caijing.com.cn
Interest rates have little effect on foreign exchange rates, given capital controls and a crawling peg, so US lawmakers would continue to push for looser currency controls regardless.
鉴于中国的资本管制和爬行盯住汇率制度，利率对汇率影响甚微，因此美国国会议员无论如何都会继续施压，要求中国政府要放宽汇率管制。
www.soenglish.com.cn

Today, it is something of a crawling peg, but China too does not have significant currency independence or much latitude for domestic money jiggering.
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The government argues that, since the crawling peg has also helped bring down inflation (it should be 2% or less next year), much of the overvaluation has been corrected—or soon will be.
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a method of stabilizing exchange rates, prices, etc, by maintaining a fixed level for a specified period or until the level has persisted at an upper or lower limit for a specified period and then permitting a predetermined incremental rise or fall